Inspection Reason

Recently investors called the inspection team to say that FERNFX’s official website was unable to visit and express their hope for the inspection team to visit the broker. In response to investors’ demand, the inspection team designated a surveyor to go to FERNFX’s office in New Zealand for more information.

 Office Building

According to the regulation information, the New Zealand licensed broker was located at Suite 42, 368 Queen Street Auckland Central Auckland. The surveyor decided to visit the broker.

The surveyor found the office building indicated by the regulation information without much trouble. According to the floor directory outside the office building it was known that there were quite a few shops in the building.

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The surveyor then entered the building and found there were no information about companies in Suite 42 on the floor directory in the lobby at the first floor.

The surveyor found FERNFX’s name and the agent’s contact information at an inconspicuous corner after reading the directory carefully. The surveyor asked a mobile phone repair shop and was informed that FERNFX’s office was small. There were about three cubicles only in the office. The office was crowded with piles of junk and almost.no one worked in it.

Conclusion

It was confirmed after the surveyor’s inspection that the real address of  FERNFX in New Zealand was the same with its regulation address. The broker's full liense (RN: 589348) issued by FSPR was cancelled and as was indicated by the cancalled license, the broker operated beyond its licensed business scope.